Apple Inc AAPL is reportedly making a move away from mobile manufacturing partners like Samsung and LG as it plans to use its own displays in 2024.
What Happened: At the beginning, Apple plans to use its own display in the highest-end Apple Watches by the end of 2024, Bloomberg reported, citing people familiar with the matter.
The screen swap will upgrade the displays from the current organic LED to microLED, with Apple eventually bringing this display tech to other devices, including the iPhone, reported Bloomberg.
Apple did not immediately respond to Benzinga’s request for comment.
The Tim Cook-led company has begun testing the microLED displays on the Apple Watch Ultra, according to Bloomberg’s Mark Gurman.
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Why It Matters: Apple’s efforts to switch displays has been ongoing for years and is a setback for Samsung Display Co. and LG Display Co. — the two main suppliers of Apple Watch screens, noted Bloomberg.
The Cupertino, California-based tech giant’s efforts could be delayed until 2025, as per the report.
Apple has been increasingly moving towards making homegrown tech components. In 2020, reports first emerged of the tech giant’s transition from Intel microprocessors to its own silicon.
Price Action: On Tuesday, Apple shares closed 0.45% higher at $130.73 in the regular session and gained 0.2% in the after-hours trading, according to data from Benzinga Pro.
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Image and article originally from www.benzinga.com. Read the original article here.